Inheriting jewellery can leave you with a surprisingly difficult decision.

Perhaps you have inherited a ring you remember your grandmother wearing every day, but which doesn't suit you at all. Maybe you have been left a collection of jewellery and have little idea what any of it is. Or perhaps there is one beautiful piece that you suspect could be valuable, but you aren't sure whether to wear it, sell it or leave it exactly as it is.

Unlike jewellery we choose for ourselves, inherited pieces come with someone else's story attached. That can make deciding what happens next feel much more significant.

My advice? Don't make the decision straight away. First, understand what you have.

Start by finding out what you have

It is very easy to make assumptions about inherited jewellery based on how it looks.

An old-fashioned setting doesn't necessarily mean the piece itself is uninteresting. Equally, age alone doesn't make a jewel particularly valuable.

There are many details I look at when examining a piece: the quality and type of stones, craftsmanship, condition, age, hallmarks, signatures and maker's marks. With signed jewellery from houses such as Cartier, Van Cleef & Arpels, Tiffany & Co., Boucheron or Bulgari, the particular design, period and originality of the piece can also be important.

Sometimes the smallest details tell us a great deal.

If you have boxes, receipts, certificates or other paperwork relating to the jewellery, keep those too. And if you know something about its history — where it was bought, who owned it or approximately when it entered the family — make a note of that before those details are forgotten.

Understanding the piece gives you a much better starting point for deciding what should happen to it.

When should you keep inherited jewellery?

Sometimes the answer is simply: keep it.

Jewellery doesn't have to be worn every week to be worth holding onto. A piece might have enormous sentimental significance, represent an important part of your family's history, or be something you would eventually like to pass to somebody else.

And you don't have to decide immediately.

If you have recently inherited jewellery, particularly following a bereavement, there is nothing wrong with putting it somewhere safe and returning to the question later. What feels completely unwearable today may feel very different in a few years.

There are also occasions when I would advise someone to think very carefully before altering a piece.

An original signed or period jewel can be interesting precisely because it has survived in its original form. Changing it could remove some of the character and history that makes it special.

Good advice isn't always about encouraging someone to sell or commission something new. Sometimes the right answer really is to leave a piece exactly as it is.

Could you reset or redesign it?

Then there are the pieces that mean something to you — but that you know you are never going to wear. This is where bespoke jewellery can provide another option.

Perhaps you have inherited a diamond ring in a setting that isn't your style. The stone could potentially become part of a new ring or pendant designed specifically for you. Stones from several family pieces might be incorporated into one new jewel. A piece that has spent decades sitting unworn in a jewellery box can become something that is part of your everyday life.

For many people, that feels very different from simply replacing an inherited piece. You are retaining something of the original jewellery while allowing its story to continue in a new form.

But redesign isn't automatically the right answer.

Before dismantling an older, signed or unusual piece, I would always want to understand exactly what it is. There may be a good reason to preserve it in its original state.

The question shouldn't simply be “What could we make from this?”

It should start with “What do we have?”

When might selling be the right decision?

There can be a strange sense of guilt associated with selling inherited jewellery.

But jewellery is intensely personal. The piece somebody else adored may simply not be something you would ever choose for yourself.

If it has little sentimental significance to you, nobody else in the family wants it and it is likely to remain unworn, selling can be an entirely reasonable decision.

You may decide to put the money towards something more meaningful to you. Or you might sell several inherited pieces and use part of the proceeds to buy — or create — one jewel you genuinely love and will wear.

Before selling, however, make sure you understand what you have.

This is particularly important with signed fine jewellery. Brand, design, age, rarity, condition and originality can all influence how a piece is viewed, so I would be wary of making a decision based solely on a quick assumption about the value of its gold or stones.

What if you've inherited several pieces?

If you have inherited an entire jewellery collection, don't feel you have to make one decision about all of it.

Think of it as a process of editing.

There might be one or two pieces that are particularly meaningful and should stay in the family. Another might contain stones that could be used in a bespoke design. Others may have value but no real emotional connection for you and could be sold.

You may also discover a piece you had initially overlooked is actually the most interesting one in the collection.

This is one of the reasons I enjoy looking at inherited jewellery. There is often much more to uncover than the owner initially realises.

You don't need to know the answer before asking for advice

One of the most important things to remember is that you don't need to arrive with a decision already made.

You don't need to say, “I want to sell this.” You can simply say, “I've inherited this. What is it, and what are my options?”

From there, you can decide whether keeping, selling, restoring or creating something new feels right.

At Luminary Fine Jewellery, I advise clients on fine jewellery including signed and period pieces, as well as sourcing, selling and bespoke commissions. My approach with inherited jewellery is always to understand the piece first — and then talk honestly about the options available.

Because sometimes the right decision is to sell. Sometimes it is to create something new.

And sometimes, the best advice I can give you is to keep it.

If you have inherited a piece of jewellery and aren't sure what to do with it, get in touch with Luminary Fine Jewellery for an initial conversation. You don't need to know what you want to do. That's something we can explore together.